56a-1304. Applicability of act. - Kansas Statutes

56a-1304

Chapter 56a.--KANSAS UNIFORM PARTNERSHIP ACT Article 13.--MISCELLANEOUS PROVISIONS

      56a-1304.   Applicability of act.(a)   Before July 1, 1999, this act governs only apartnership formed:

      (1)   After the effective date of this act, unlessthat partnership is continuing the business of a dissolvedpartnership under the provisions of the prior uniform partnershipact, K.S.A. 56-301 et seq. and amendments thereto; and

      (2)   before the effective date of this act, thatelects, as provided by subsection (c), to be governed by thisact.

      (b)   On and after July 1, 1999, this act governs allpartnerships.

      (c)   Before July 1, 1999, a partnership voluntarilymay elect, in the manner provided in its partnership agreement orby law for amending the partnership agreement, to be governed bythis act. The provisions of this act relating to the liabilityof the partnership's partners to third parties apply to limit thosepartners' liability to a third party who had done business with thepartnership within one year preceding the partnership's election tobe governed by this act, only if the third party knows or hasreceived a notification of the partnership's election to begoverned by this act.

      History:   L. 1998, ch. 93, § 68; Jan. 1, 1999.